Hyster-Yale Materials Handling (NYSE:HY) Downgraded to “Hold” Rating by StockNews.com

StockNews.com lowered shares of Hyster-Yale Materials Handling (NYSE:HY) from a buy rating to a hold rating in a report published on Wednesday.

A number of other brokerages have also recently commented on HY. Roth Mkm dropped their price objective on shares of Hyster-Yale Materials Handling from $84.00 to $70.00 and set a “buy” rating for the company in a research note on Wednesday. Northland Capmk cut shares of Hyster-Yale Materials Handling from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 7th. Two equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, Hyster-Yale Materials Handling currently has a consensus rating of “Moderate Buy” and an average target price of $80.00.

Hyster-Yale Materials Handling Stock Performance

Shares of NYSE HY opened at $56.09 on Wednesday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.63 and a current ratio of 1.31. The company has a market cap of $981.58 million, a P/E ratio of 5.61 and a beta of 1.32. The firm’s fifty day moving average is $62.77 and its two-hundred day moving average is $66.85. Hyster-Yale Materials Handling has a 52-week low of $41.75 and a 52-week high of $84.44.

Hyster-Yale Materials Handling (NYSE:HY) last announced its quarterly earnings results on Tuesday, August 6th. The industrial products company reported $3.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.28 by $1.30. The company had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.08 billion. Hyster-Yale Materials Handling had a net margin of 4.13% and a return on equity of 44.49%. During the same period in the previous year, the firm posted $2.21 EPS. As a group, analysts anticipate that Hyster-Yale Materials Handling will post 9.69 EPS for the current fiscal year.

Hyster-Yale Materials Handling Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 30th were issued a dividend of $0.35 per share. The ex-dividend date of this dividend was Friday, August 30th. This represents a $1.40 annualized dividend and a yield of 2.50%. Hyster-Yale Materials Handling’s payout ratio is 14.00%.

Hedge Funds Weigh In On Hyster-Yale Materials Handling

Several hedge funds have recently added to or reduced their stakes in the company. Acadian Asset Management LLC grew its stake in Hyster-Yale Materials Handling by 63.7% in the 2nd quarter. Acadian Asset Management LLC now owns 220,865 shares of the industrial products company’s stock worth $15,390,000 after acquiring an additional 85,906 shares in the last quarter. American Century Companies Inc. lifted its position in shares of Hyster-Yale Materials Handling by 149.8% in the 2nd quarter. American Century Companies Inc. now owns 151,241 shares of the industrial products company’s stock worth $10,546,000 after purchasing an additional 90,696 shares during the period. Jacobs Levy Equity Management Inc. lifted its position in shares of Hyster-Yale Materials Handling by 298.7% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 132,136 shares of the industrial products company’s stock worth $8,479,000 after purchasing an additional 98,996 shares during the period. Bank of New York Mellon Corp lifted its position in shares of Hyster-Yale Materials Handling by 2.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 115,550 shares of the industrial products company’s stock worth $8,057,000 after purchasing an additional 2,619 shares during the period. Finally, Swedbank AB purchased a new stake in shares of Hyster-Yale Materials Handling in the 1st quarter worth approximately $5,519,000. 46.47% of the stock is currently owned by institutional investors.

About Hyster-Yale Materials Handling

Hyster-Yale, Inc, through its subsidiaries, designs, engineers, manufactures, sells, and services a line of lift trucks, attachments, and aftermarket parts worldwide. The company manufactures components, such as frames, masts, and transmissions; and assembles lift trucks. It markets its products primarily under the Hyster and Yale brand names to independent Hyster and Yale retail dealerships.